Symantec Corp (SYMC): Today's Featured Technology Laggard

Symantec was a leading decliner within the technology sector, falling $0.29 (-1.2%) to $24.30 on average volume

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

Symantec ( SYMC) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.4%. By the end of trading, Symantec fell $0.29 (-1.2%) to $24.30 on average volume. Throughout the day, 9,345,593 shares of Symantec exchanged hands as compared to its average daily volume of 7,641,200 shares. The stock ranged in price between $21.93-$24.54 after having opened the day at $24.48 as compared to the previous trading day's close of $24.59. Other companies within the Technology sector that declined today were: Winland Electronics ( WELX), down 99.0%, Nuance Communications ( NUAN), down 18.3%, Zoom Technologies ( ZOOM), down 17.0% and Alpha & Omega Semiconductor ( AOSL), down 15.8%.

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Symantec Corporation provides security, storage, and systems management solutions to various organization and consumers worldwide. It operates in four segments: Consumer, Security and Compliance, Storage and Server Management, and Services. Symantec has a market cap of $16.9 billion and is part of the computer software & services industry. The company has a P/E ratio of 15.7, below the S&P 500 P/E ratio of 17.7. Shares are up 29.8% year to date as of the close of trading on Monday.

TheStreet Ratings rates Symantec as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income.